By Commodity News Service Canada
WINNIPEG, Feb. 20 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.
– A plan by the Alberta government to invest C$3.7 billion in moving oil by rail is expected to generate C$5.9 billion in sales and increased revenue, netting the province C$2.2 billion, according to provincial estimates released Tuesday. The province’s NDP government is leasing tank cars and buying rail service in an effort to deal with shortages moving oil by pipeline out of the land-locked oil-rich province.
– The nuclear rhetoric between the United States and Russia is ramping up, with Russian President Vladimir Putin now threatening to develop new weapons and aim them to the west if the U.S. moves forward with similar plans for shorter range weapons to be deployed in Europe. The latest threats come as both nuclear powers have recently backed away from the Intermediate-Range Nuclear Forces treaty that’s been in place since 1987.
– The Islamic State’s last enclave in eastern Syria is close to falling to U.S.-backed forces, according to reports from the front lines near the Iraqi border.